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Affordable Housing News & Views - February 2020
Part One of this two-part series discussed recognizing revenue for syndicators and investors. Now, here’s Part Two: Recognizing revenue for developers. This new publication from the CohnReznick Assurance practice presents information to help developers navigate the process for recognizing revenue, and addresses considerations unique to them.
An older HUD portfolio faces serious physical issues, and drastic new loan subordination requirements are preventing the refinancing and rehabilitation of the rural housing stock. Programs like the Rental Assistance Demonstration Program (RAD) have shown effectiveness, but a large number of housing advocates support budget-based Section 8 to replace the current subsidy structure. Bob Moss, director of legislative affairs at CohnReznick, discusses the challenges confronting 2,800 properties housing almost 300,000 people.
The latest bi-monthly survey of housing tax credit pricing was released by CohnReznick Tax Credit Investment Services. The data show equity-weighted basis, blended IRR, and net equity price distribution of investments approved by the participating syndicators in the past 60 days. Read about these topics and current national and regional multi-investor funds, pricing, and other insights.
Around the community
Maryland Affordable Housing Coalition’s Housing Day, Feb. 19
National Housing & Rehabilitation Association (NH&RA) Annual Meeting & Symposium, Feb. 26-29
CDFI Coalition Institute, Feb. 27-28
2020 Illinois Affordable Housing Forum, March 2-3
National Council of State Housing Agencies (NCSHA) 2020 Legislative Conference, March 9-11
2020 Tennessee Housing Conference, March 11-12
Georgia Affordable Housing Coalition Annual Conference & Trade Show, March 25-27
National Low-Income Housing Coalition (NLIHC) Housing Policy Forum, March 25-27
headlines
De Blasio’s affordable housing plan includes tiny houses and basement pads (NY Post)
City of Tallahassee to hold public meetings on affordable housing five-year plan (WTXL.com)
Atlanta launches affordable housing fund (National Housing & Rehabilitation Association)
U.S. faces growing rental affordability challenges according to new Harvard report (NCSHA)
City of Atlanta launches affordable housing “tracker” to illustrate progress (Curbed Atlanta)
“Urban village” of 2,100 affordable housing units proposed for East New York (BrooklynPaper.com)
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Any advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues. Nor is it sufficient to avoid tax-related penalties. This has been prepared for information purposes and general guidance only and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its members, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.